Buffett's partner says America is finished

In a recent article about how one nation came to financial ruin penned for Slate.com, Charlie Munger, one of the most richest men in the world warns that the U.S. economy is crumbling before our eyes.

Munger, who is a longtime business partner to Warren Buffett (one of the most successful investors in the world) explains in the form of a parable how Wall Street greed, debt schemes and love affair with gambling are finishing off the American economy.

In his article entitled "Basically, It's Over", Munger constructs the parable of Basicland, a nation whose economy happens to run parallel to that of the United States.

In the beginning of Basicland, people live within their means, but thanks to greed, poor planning and Wall Street schemes things take a turn for the worse.

Via: Slate.com Read the full story | Image by Flex/Flickr.com